REG Study Group Q3 2016 - Page 10

Viewing 15 replies - 136 through 150 (of 315 total)
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  • #784735
    Anonymous
    Inactive

    Under the anti-fraud provisions of Section 10(b) of the Securities Exchange Act of 1934, a CPA may be liable if the CPA acted:

    A.
    negligently.

    B.
    with independence.

    Incorrect C.
    without due diligence.

    D.
    without good faith.

    Answer is D.

    I swear these answers seem to rotate every time. Anyone have memorization tricks?

    #784736
    CPA2BEE
    Participant

    @Dmb2stepper Always relate Section 11/1933 to negligence and Section 10(b)/1934 to fraud. I kept that simple train of thought and it seemed to work (at least in practicing where I knew if I got it right or wrong). Remember the requirements for what the plaintiff must prove under both sections is the same, except under Section 10(b) they must prove reliance and scienter as well, again leaning more towards fraud. Therefore, good faith would be the issue under Sect 10(b)

    CA CPA - est. Dec 2016

    FAR - 80
    AUD - 82
    BEC - 80
    REG - 85

    ETHICS - 90
    EXPERIENCE - COMPLETE
    Application for California license mailed 8/4/2016

    #784737
    CPA2BEE
    Participant

    I just can't stay away from REG study group, even after my exam…

    CA CPA - est. Dec 2016

    FAR - 80
    AUD - 82
    BEC - 80
    REG - 85

    ETHICS - 90
    EXPERIENCE - COMPLETE
    Application for California license mailed 8/4/2016

    #784738
    Teal
    Participant

    How do you all get the bottom part to post everytime you post? Like the test scores under the line?

    AUD - 82
    BEC - 79
    FAR - 75
    REG - 77
    NINJA & Roger

    Passed AUD!

    Passed BEC!

    Passed FAR!

    Passed REG!

    FAR (66,68) Aug 26
    REG (66) July 25
    AUD (66) December 1st
    BEC - October 3rd

    #784739
    LaidBackCPA
    Participant

    @Teal, go to your member page and click on “edit this information.” The signature part is toward the bottom. That's where you put your scores or whatever else you want.

    Battling these exams with no accounting experience!

    FAR 76-4/16
    REG 64-6/16, 78-7/16
    AUD 65-9/16, 68-10/16, 77-2/17
    BEC 78-11/16

    DONE!!!!!

    FAR: 76 (4/2/2016)
    REG: 64 (6/10/2016); 78 (7/12/16)
    AUD: (9/2/2016)
    BEC: (10/3/2016)

    Studying for these exams with no accounting experience!

    #784740
    Teal
    Participant

    @LaidBack, thank you!!

    AUD - 82
    BEC - 79
    FAR - 75
    REG - 77
    NINJA & Roger

    Passed AUD!

    Passed BEC!

    Passed FAR!

    Passed REG!

    FAR (66,68) Aug 26
    REG (66) July 25
    AUD (66) December 1st
    BEC - October 3rd

    #784741
    Anonymous
    Inactive

    @CPA2B. Me too – LOL. I am sitting here watching Amazon prime, something I haven't done without guilt for over a year. I so hope this is over for both of us. Eagerly awaiting more ‘reg exam experience' posts.

    Teal I don't know if you're allowed to put an email address in your profile – concerns about exam disclosure and all.

    See the forum rules topic at the top of the forum page.

    #784742
    CPA2BEE
    Participant

    @CPA2021 I hope we are done too! I keep creeping looking for exam experiences as well. I am so sick of this waiting and wondering, and every time I try to get away from it I get sucked back in lol. But I finally am gonna cut loose and party this weekend so hopefully that kind of detaches my mind from it, plus I got a fishing trip next weekend to look forward to :)…hoping the time will fly until Aug 4, and we wake up to good news!

    Sending good REG vibes to all exam takers this quarter!

    CA CPA - est. Dec 2016

    FAR - 80
    AUD - 82
    BEC - 80
    REG - 85

    ETHICS - 90
    EXPERIENCE - COMPLETE
    Application for California license mailed 8/4/2016

    #784743
    Anonymous
    Inactive

    thanks! good to see the vets back haha. i'm definitely not looking forward to the wait for exam scores

    what kind of fishing CPA2BEE?

    #784744
    Anonymous
    Inactive

    and for for section 11 (1933 act) questions, the plaintiff only has to prove LAM (that there was a loss, he had acquired stock, and there was a material misstatement).

    Loss
    Acquired stock
    Material mistatement

    for rule 10b-5 (1934 act), the plaintiff has to prove LAMRS

    LAM
    Reliance
    Scienter

    #784745
    CPA2BEE
    Participant

    @Dr Cash I'm hopping on a boat out of San Diego and going offshore fishing mexican waters for the weekend. Will be fishing for yellowtail, yellowfin tuna, bluefin tuna, mahi mahi – all big and tasty fish :)…I do it a couple times every year I love this stuff.

    CA CPA - est. Dec 2016

    FAR - 80
    AUD - 82
    BEC - 80
    REG - 85

    ETHICS - 90
    EXPERIENCE - COMPLETE
    Application for California license mailed 8/4/2016

    #784746
    Anonymous
    Inactive

    I like the LAM mneumonic – that one's actually easy to remember – some of them are just useless.

    I think if u remember materiality for 1933 and fraud for 1934 you can usually guess right. The 1933 act puts the hammer down on ensuring the integrity of new issues, so the liability standard is lower, whereas 1934 is dealing with stock that's already publicly traded and the responsiblity is more on the investor to know what they are getting into – hence the emphasis on proving actual fraud.

    #784747
    Anonymous
    Inactive

    nice! i just went saltwater fishing for the first time ever with my pops for father's day. caught some trout and redfish. it's a whole different world with all the different creatures out there haha (i've only fished freshwater my entire life). i would love to do some deep sea fishing sometime 🙂

    #784748
    Teal
    Participant

    @CPA2021 – wait, can you see my email address??

    AUD - 82
    BEC - 79
    FAR - 75
    REG - 77
    NINJA & Roger

    Passed AUD!

    Passed BEC!

    Passed FAR!

    Passed REG!

    FAR (66,68) Aug 26
    REG (66) July 25
    AUD (66) December 1st
    BEC - October 3rd

    #784749
    Teal
    Participant

    @CPA2021 – oh no, I see what you are saying! yikes! I tried to delete it and it said I must have one to save my info…

    AUD - 82
    BEC - 79
    FAR - 75
    REG - 77
    NINJA & Roger

    Passed AUD!

    Passed BEC!

    Passed FAR!

    Passed REG!

    FAR (66,68) Aug 26
    REG (66) July 25
    AUD (66) December 1st
    BEC - October 3rd

Viewing 15 replies - 136 through 150 (of 315 total)
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